Iconic Istanbul neighborhoods are struggling

Beyoğlu on the European side of Istanbul and Bağdat Street on the Anatolian side are sad. Morale is down for the owners of shops and those working in these shops. There is no business. They are even longing for the economic crisis of the early summer. No need to say that shopping for the bayram period was quite weak.
 
On iconic İstiklal Street, one can distinguish the high number of Arabs. Too many of them are strolling and few sit down; in other words, few are eating and drinking. No one is spending money. 

Some are saying Beyoğlu has lost its true character.

Shopkeepers are leaving İstiklal Street in dire straits, unable to pay the rent. The owners are concerned obviously… Bağdat Street is also emptying. Famous foreign brands are running away. It seems a foreign supermarket chain has been unable to pay its employees for the past three months. 

The restaurants facing the pier in Karaköy have been closing. A "for rent" sign has hung in the façade of a hotel for more than a year. Starbucks left Karaköy. In the past famous brands used to pay high rents just to be visible in important centers. This means their income can no longer afford the rents. If I were to tell you that banks have been moving to small streets from main arteries and main streets, then you might start to think that the crisis is more serious than it looks.

Shopkeepers are waiting patiently for the summer to pass.

It is the same with big shopping malls like İstinyepark, Akmerkez and Zorlu. Turks are not going where Arabs are going and the Arabs establish their own culture, just like in Taksim and Talimhane. You can see what is being eaten and drunk in these shops, what music is playing.  And then you can ask: Where are the Turks going?